Plenty of Corn for Ethanol

DomesticFuel.com
Posted by Cindy Zimmerman – June 30th, 2009

Many are surprised by the USDA’s planted acreage report out this morning that estimates the second largest corn crop since 1946 at 87.0 million acres, up 1 percent from last year.

USDA grains analyst Jerry Norton says the number was much higher than the trade was expecting. “It’s a big number,” Norton says, especially considering the planting delays in Illinois and Indiana due to wet weather. But, that caused higher prices through May and into early June, “So, even though it was getting late to plant corn it was a strong incentive to plant for producers who could still get it into the ground.”

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